PIPA In the News

This broker is learning how to empower his team to grow the business without constantly relying on him to drive it

Before joining the mortgage industry, MoneyQuest Wollongong owner Paul Wright earned a living as an employee of CBA and the Bank of Queensland. His career took a turn when he was working as a BDM in BOQ's broker market and someone suggested he would make a good broker. That comment prompted some thinking, which later kickstarted a new chapter for Wright.

In 2002, just as the broking industry was evolving, Wright took a leap of faith and finally became a mortgage broker. He had the full support of his wife, Julie.

Find a suburb that has a higher than average number of couples without children, with the female in a professional role, and long-term residents, and you may be onto a winner.

New research released by the Property Investment Professionals of Australia (PIPA) looked for similar signs that could help homebuyers and investors pick the next suburbs to gentrify.

"If you had this knowledge a few decades ago, you would have bought in suburbs such as Balmain and Paddington in Sydney before they become hightly sought-after and expensive," PIPA chairman Peter Koulizos said.

"Likewise, in Melbourne, where you would have invested in Richmond or Collingwood before they became really popular and pricey."

The old adage "misery loves company" seems top of mind for anyone commenting on the Sydney property market at present.

Everyone looks to be climbing onto the same train – claiming the local market has "had its day" and that the smart money is heading out of town. And hasn't it all turned on a dime? It feels like not too far back (just 12 months ago) Sydney real estate could do no wrong and the good times were going to last forever.

I realise dramatic headlines get clicks, but I think observers need to cool their heels and take a practical look at why there are still opportunities for skilled property buyers in Sydney right now – in one sector in particular.

The Property Investment Professionals of Australia (PIPA) have elected two new board directors including CoreLogic's head of content Kylie Davis as its membership base has been growing.

ASPIRE Advisor Network's Richard Crabb has also been appointed to the PIPA board recently.

Ms Davis is a 25-year media veteran and has nearly 10 years' experience in property, as national network editor at News Corp Australia and four years in solutions and real estate marketing roles at CoreLogic.

The PIPA chairman Peter Koulizos said PIPA is delighted with Ms Davis's appointment given her strong media background and expertise in property "both professionally and personally."

The Sydney-based Davis said she looked forward to working with the rest of the board to raise awareness of professional standards in property investing.

Despite the views of some people, all property will not always increase in value, so we all have to work a little harder to ensure that our investment selections add up, especially during these slightly more turbulent times.

Searching for the next up-and-coming suburbs and regional centres can be a risky exercise, but it has the potential to pay dividends.

It requires a certain amount of crystal ball-gazing and a level of courage, but if you get it right, the rewards can be well worth the effort.

Spotting gentrification requires analysing data for tell-tale signs of imminent changes, as well as visiting the location to reinforce the data and determining which pockets, streets and properties in the location are the best quality.

It also requires investors to have the financial capability, conviction and courage to purchase in a location that may not quite be on the map yet.

Despite the views of some people, all property will not always increase in value, so we all have to work a little harder to ensure that our investment selections add up, especially during these slightly more turbulent times.

Searching for the next up-and-coming suburbs and regional centres can be a risky exercise, but it has the potential to pay dividends.

It requires a certain amount of crystal ball-gazing and a level of courage, but if you get it right, the rewards can be well worth the effort.

Spotting gentrification requires analysing data for tell-tale signs of imminent changes, as well as visiting the location to reinforce the data and determining which pockets, streets and properties in the location are the best quality.

It also requires investors to have the financial capability, conviction and courage to purchase in a location that may not quite be on the map yet.

Find a suburb that has a higher than average number of couples without children, with the female in a professional role, and long-term residents, and you may be onto a winner.

New research released by the Property Investment Professionals of Australia (PIPA) looked for similar signs that could help homebuyers and investors pick the next suburbs to gentrify.

"If you had this knowledge a few decades ago, you would have bought in suburbs such as Balmain and Paddington in Sydney before they become hightly sought-after and expensive," PIPA chairman Peter Koulizos said.

"Likewise, in Melbourne, where you would have invested in Richmond or Collingwood before they became really popular and pricey."